SharkNinja (NYSE:SN) Stock Price Down 3.6% – Should You Sell?

Shares of SharkNinja, Inc. (NYSE:SN) fell 3.6% during mid-day trading on Friday . The company traded as low as $96.33 and last traded at $96.85. 750,170 shares were traded during trading, a decline of 38% from the average session volume of 1,214,876 shares. The stock had previously closed at $100.44.

Analysts Set New Price Targets

SN has been the subject of several research reports. Bank of America upped their price objective on shares of SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Morgan Stanley boosted their price target on shares of SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Guggenheim raised their price objective on shares of SharkNinja from $100.00 to $120.00 and gave the company a “buy” rating in a report on Monday, October 7th. Canaccord Genuity Group boosted their price objective on shares of SharkNinja from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. reduced their price objective on SharkNinja from $128.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $110.85.

SharkNinja Stock Performance

The stock’s 50 day moving average price is $104.40 and its 200 day moving average price is $88.25. The company has a market capitalization of $13.87 billion, a P/E ratio of 39.37, a price-to-earnings-growth ratio of 1.63 and a beta of 1.04. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 1.67.

SharkNinja (NYSE:SN) last posted its earnings results on Thursday, October 31st. The company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.17. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.31 billion. SharkNinja had a net margin of 7.02% and a return on equity of 32.55%. SharkNinja’s revenue was up 33.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.95 EPS. As a group, equities analysts expect that SharkNinja, Inc. will post 3.88 EPS for the current year.

Hedge Funds Weigh In On SharkNinja

A number of hedge funds have recently modified their holdings of the company. abrdn plc boosted its position in SharkNinja by 17.8% in the third quarter. abrdn plc now owns 419,660 shares of the company’s stock valued at $45,621,000 after buying an additional 63,299 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in SharkNinja in the 3rd quarter valued at $11,942,000. Harbor Capital Advisors Inc. raised its holdings in SharkNinja by 1,218.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 89,967 shares of the company’s stock valued at $9,780,000 after acquiring an additional 83,141 shares during the last quarter. Baillie Gifford & Co. grew its holdings in SharkNinja by 6,408.9% in the 3rd quarter. Baillie Gifford & Co. now owns 1,825,626 shares of the company’s stock valued at $198,464,000 after buying an additional 1,797,578 shares in the last quarter. Finally, WCM Investment Management LLC purchased a new stake in SharkNinja in the third quarter valued at $23,874,000. 34.77% of the stock is currently owned by institutional investors.

SharkNinja Company Profile

SharkNinja, Inc, a product design and technology company, engages in the provision of various solutions for consumers worldwide. It offers cleaning appliances, including corded and cordless vacuums, including handheld and robotic vacuums, as well as other floorcare products comprising steam mops, wet/dry cleaning floor products, and carpet extraction; cooking and beverage appliances, such as air fryers, multi-cookers, outdoor and countertop grills and ovens, coffee systems, carbonation, cookware, cutlery, kettles, toasters and bakeware; food preparation appliances comprising blenders, food processors, ice cream makers, and juicers; and beauty appliances, such as hair dryers and stylers, as well as home environment products comprising air purifiers and humidifiers.